Dh135 million net profits for Q1 2019: NBQ

Umm Al Quwain: The National Bank of Umm Al Quwain, NBQ, has announced Dh135.18 million in net profits for the first quarter in 2019, a three per cent increase compared to the same period last year, which registered Dh131.03 million.

According to the bank, fee and commission income recorded an increase of 31 per cent compared to a similar period last year. The cost-to-income ratio stood at 19 per cent during the three months.

It recorded total assets at Dh14.412 billion, with a deposits-to-advances ratio maintaining a 107 per cent rate.

The bank’s capital adequacy ratio hit 35.23 per cent on March 31, 2019, and “continues to be well over the minimum threshold stipulated by the UAE Central Bank in accordance with Basel III guidelines.”

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